The Establishment of a Central Data Privacy Enforcement Team Is Not Far Off
A central privacy data protection enforcement team will be able to enforce the regulations we already have in place to protect consumer data better.
Whether we like it or not, our data is everywhere. Anytime that you purchase a product or service online, perform a financial transaction online, or fill out an application for a job or a line of credit, all of your data is sent over the web making it easier for anyone, including hackers, to get a good look at who you are. By accessing this data, they can create new lines of credit, commit crimes, and do almost anything they want to just by assuming your identity. Data breaches are becoming a common occurrence, even with companies like Experian. As a credit bureau and one of the largest credit reporting agencies in the world, it is also supposed to be one of the most securely. Sadly, even it has seen data loss. Bills have been introduced in the past few months that would establish a team of specialists who would enforce privacy measures in an attempt to keep consumer information secure.
The Collection, Analysis, and Storage of Consumer Data
Consumer data is constantly being shifted from one place to another, both within company systems and also between business entities. This transfer, collection, analysis, and storage of massive amounts of data can lead to information being sent to the wrong destination or stolen by hackers who have found ways to breach the secure database. This constant movement increases the risk of data loss or mishandling of information exponentially. The high-risk associated with this never-ending movement is substantial and must be considered when trying to secure networks and systems to keep unauthorized individuals from gaining access.
The Creation of a Centralized Data Privacy Enforcement Entity
Due to the increase in cyber-attacks and hacking issues, data security regulations have been put in place for several years. Since 2002, several attempts have been made to lessen our vulnerability to these types of attacks. However, they still occur and have steadily increased in number, putting all of our personal information at greater risk. Data collection and storage have now become essential to businesses, no matter their size or location.
The Greatest Potential Risk
The most significant potential risk when it comes to the things that compromise data derives from human error, willful attackers/hackers, and the exploits of nation-state groups. In Europe, the European GDPR has put in place a Data Protection Authority to help slow down the frequency of data breaches and minimize the potential risk of loss due to hackers, cyber attacks, and human error. With over $100 million in fines being issued over the last year, the program has started to exhibit signs of success. The fear of receiving one of these fines has caused many enforcers to start re-thinking their security issues and investing more money in changing how they handle this extremely sensitive data.
The Benefits of Having a Centralized Data Privacy Enforcement Team
With all of the current regulations already in place, states like California have already started to enforce them through the CCPA. By switching the way they think, they have created new processes that can be used to lower consumer risk and establish higher security protocols. Now, the concept is not so much focused on “owning” the data they have but are emphasizing consumer rights. This new model involves implementing new, more powerful safeguards, data minimization, and a “de-identification” process. With every state either moving toward this model or at least starting the process to create their CCPA-like organization, the establishment of a centralized data privacy enforcement entity is not far off.
In the United States alone, the number of breaches each year continues to grow by leaps and bounds. Many of the regulations concerning cybersecurity are already in place. With no one to enforce them, however, they don’t do the job they are created for. Instead, they simply offer guidelines. The fact that other countries have already started to develop enforcement teams to help monitor and enforce the regulations that are in place means that the United States is sure to follow suit. Some states have already taken the initiative to put their own in place. The federal government won’t be far behind.
Experienced Chief Executive Officer with a demonstrated history of working in the information technology and services industry. Skilled in Customer Relationship Management (CRM), IT Service Management, Team Building, IT Strategy, and Management. Strong entrepreneurship professional with a Master of Business Administration (M.B.A.) focused in Computer/Information Technology Administration and Management from Humboldt University of Berlin (Humboldt-Universität zu Berlin).
